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Technology Sector Update for 03/04/2019: SAIC,GRMN,SE

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Top Tech Stocks

MSFT -1.20%

AAPL +0.15%

IBM -1.18%

CSCO -0.83%

GOOG -0.42%

Technology stocks were falling in recent trading, with the shares of tech stocks in the S&P 500 losing 0.9% in value although the Philadelphia Semiconductor Index was falling over 0.7%.

Among technology stocks moving on news:

(-) Science Applications International ( SAIC ) was down about 2% after the company said it was selected for a $37 million Seaport-e task order to provide mission support services to the Naval Surface Warfare Center in Panama City.

In other sector news:

(-) Garmin ( GRMN ) was little changed this afternoon, giving back a small gain previously in the session. The navigational device firm Monday said it was selected as the lead design and production partner of infotainment modules for the BMW Group.

(-) Sea Ltd ( SE ) dropped 7% on Monday after the Chinese digital entertainment company late Friday disclosed plans to sell 50 million of its American depositary shares, each representing one Class A ordinary share, in a public offering of stock. One of Sea Ltd's larger stakeholders, Tencent Holdings Ltd, has indicated an interest in buying up to $50 million of the ADS on the same terms as the other shares being sold.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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